I first invested in Ethereum when it was around 90 and I bought a few more during the dip yesterday.

It's got a ridiculous amount of backing and the market cap is getting closer and closer to that of bitcoin way faster than anyone anticipated. Anything can happen, but as investments go it's about as safe a bet as you can realistically expect.

I got into BTC around November 2013 and have just held since. I check r/bitcoinmarkets daily when there's a rally/dump going on but yeah, never really traded. I'm more interested in the blockchain/business side of it. The Mt Gox/Bitfinex hacks were both fucking mental; How anybody can bang their life savings into what is essentially the wild west is beyond me.

chainofbradley wrote:I got into BTC around November 2013 and have just held since. I check r/bitcoinmarkets daily when there's a rally/dump going on but yeah, never really traded. I'm more interested in the blockchain/business side of it. The Mt Gox/Bitfinex hacks were both fucking mental; How anybody can bang their life savings into what is essentially the wild west is beyond me.

It's best to ascribe to the "don't invest more than you can afford to lose" mentality. Now that it's getting more popular there are sites like Coinbase that are insured in case something like that were to happen. if you're gonna invest in some of the less popular coins it'd be in your best interest to get a hardware wallet.

Should have listened to my friend- he was telling me years ago that a bitcoin investment was the way to go and bought an assload of coins for $12-20 apiece. Same coins today are $2500ish a pop- which is completely fucking nuts.

chainofbradley wrote:I got into BTC around November 2013 and have just held since. I check r/bitcoinmarkets daily when there's a rally/dump going on but yeah, never really traded. I'm more interested in the blockchain/business side of it. The Mt Gox/Bitfinex hacks were both fucking mental; How anybody can bang their life savings into what is essentially the wild west is beyond me.

It's best to ascribe to the "don't invest more than you can afford to lose" mentality. Now that it's getting more popular there are sites like Coinbase that are insured in case something like that were to happen. if you're gonna invest in some of the less popular coins it'd be in your best interest to get a hardware wallet.

Couldn't agree more. I remember suicide hotline numbers getting posted on a few boards when the Mt Gox hack was going on. You're right though, it's definitely come a long way in the past 3-4 years with exchanges like Coinbase. When I put a bit into it, Bitstamp was the only exchange I could find that was relatively simple to register/transfer funds into from the UK. I've always just stuck with them for the odd trade since. It's only a matter of time until Bitstamp gets margin trading up and running though. The temptation to just go with some insane leverage is gonna be pretty high when that happens!

I'm thinking of getting in on the Etherium game, since it really does seem like this stuff is not going away anytime soon and like the other person said there is too much infrastructure and money in it already to be the flash in the pan naysayers will say these are. Can anyone explain to me why Dash is so cheap (and has never been worth more than a dollar) but it's already got millions of dollars in holding already. Has it just not taken off or is it modeled differently to be more consistent or something?

oldorder wrote:I'm thinking of getting in on the Etherium game, since it really does seem like this stuff is not going away anytime soon and like the other person said there is too much infrastructure and money in it already to be the flash in the pan naysayers will say these are. Can anyone explain to me why Dash is so cheap (and has never been worth more than a dollar) but it's already got millions of dollars in holding already. Has it just not taken off or is it modeled differently to be more consistent or something?

I'm not really familiar with many of the altcoins. I think a lot of them have something that attempts to distinguish them from the pack, but it's all a blind gamble as far as I'm concerned.

I get the naysayer mentality. I don't blame anyone who doesn't want to risk their money on something that seems so fickle. I was like that for the longest time until my friend wouldn't shut up about ethereum for a month straight.

He begged me to buy in at $35. He Kept trying to explain the technology behind it and how much support it has and how it's gonna be "bigger" than bitcoin and I could not have cared less until it gradually kept growing. Once it hit $90 I was afraid of it being $1000 two years down the road and the possibility of basically missing out on 10x gains so I finally bought it.

bitcoin crashed a bit this week due to another cyptocurrency called tether getting hacked and a theft of $61m in currency.

So, being a gambler, just put in for $150 on bitcoin using that coinbase app. A friend who got in at the start of this year reckons hes made about $4k so fuck it, if its worthless ive lost $150, which is basically a night out drinking where I live.

Adonis wrote:bitcoin crashed a bit this week due to another cyptocurrency called tether getting hacked and a theft of $61m in currency.

So, being a gambler, just put in for $150 on bitcoin using that coinbase app. A friend who got in at the start of this year reckons hes made about $4k so fuck it, if its worthless ive lost $150, which is basically a night out drinking where I live.

No idea what im doing but the app made it really easy.

edit: just bought $50 of litecoin too, see how that goes.

That's what I'm gonna do, $150 of litecoin and just see where it goes.

put some money into bitcoin (not much so dont get excited) a few years ago. took the bit of money i made there and put it into eth around 2 years ago. if i had money to invest i'd be swimmin' in it but too bad i'm poor

When this thread was started on June 27th Bitcoin was a little less than $2,500. Now it's over $8,000. Conversely, Ethereum was $267 and now it's $363. I was in here touting Ethereum but if you invested the same amount of money into Bitcoin it would have tripled by now.

Anybody who thinks they can predict what's gonna happen from here on out is guessing just like everybody else, but if you can afford to take a chance with a little money the payoff could be significant.

Concealer wrote:Anyone have any good links on how to go about even buying bitcoin? Like I want to put some disposable money "in" but don't really even know where "in" is that doesn't seem shady.

i use the app coinbase on my iphone, you can buy and sell bitcoin and litecoin and another one which name i forget. Its a legit company that has over $100m in funding so its seen as being pretty secure. its very easy to use and is linked to your bank account.

Concealer wrote:Anyone have any good links on how to go about even buying bitcoin? Like I want to put some disposable money "in" but don't really even know where "in" is that doesn't seem shady.

i use the app coinbase on my iphone, you can buy and sell bitcoin and litecoin and another one which name i forget. Its a legit company that has over $100m in funding so its seen as being pretty secure. its very easy to use and is linked to your bank account.

Coinbase is what I use. It's super user friendly and it's insured up until a certain amount. Plus there's a bunch of two step verification and different security options.

There's still a sense among some people that crypto is the wild west, which is true in terms of volatility, but coinbase has made it pretty safe and easy to trade Bitcoin, Ethereum, and Litecoin.

real question, what scale have you guys invested (not specific numbers, but general ballpark)? i am really poor so all ive been able to put in is a few hundo, i wanna know more about this experience from folks with like 50 g's invested.

My brother is deep in bitcoin; he actually bought bitcoin little by little over time, while working as an RN, and now he's somewhat kind of loaded haha so much so he isn't an RN anymore and has dedicated his full time trying to be some sort of Time Ferris-type entrepreneur.

I've got about 10k invested right now which is a ridiculous amount of money for me. I'm in it for the long haul and my brother has all of my account info if God forbid something were to happen to me.

For anyone who's already invested or who's looking to get into it, make sure someone you know and trust is at least aware of where your coins are being held. Coinbase makes it super easy but if something happens and your family doesn't even know you have these investments, or they don't know where to look, that could potentially be a lot of money that they won't have access to.

If it were to get to a point where I could withdraw 100k after fees and taxes I'd probably do so and invest in some property.

I remember seeing some news segment on bitcoin in like 2012 and thought it was a good investment. I even told my friends about it, but never actually put the work into investing. I had some coworkers who were mining bitcoins at the time too. This is probably how people who had a chance to invest in apple, but didn't felt.

I was going to invest on ethereum earlier this year, but stupid Coinbase setup locked me out over some dumb shit and then I just got frustrated. I'm not meant to have money.

vomitponx wrote:yeah coinbase is backed but make sure you only use it to buy and store your coins in a different wallet

how does one go about moving ones coin from coinbase on iphone to another off-app wallet? Like I say I only just started using it recently. Googled but found conflicting answers.

im not sure the exact process from the app. but you pretty much make a wallet on a dif site then youll get a wallet address or something like that and you send your bitcoins from coinbase to the id of your new wallet. i use blockchain.info as my wallet. its also good to store your btc in seperarte wallets i think

vomitponx wrote:yeah coinbase is backed but make sure you only use it to buy and store your coins in a different wallet

how does one go about moving ones coin from coinbase on iphone to another off-app wallet? Like I say I only just started using it recently. Googled but found conflicting answers.

im not sure the exact process from the app. but you pretty much make a wallet on a dif site then youll get a wallet address or something like that and you send your bitcoins from coinbase to the id of your new wallet. i use blockchain.info as my wallet. its also good to store your btc in seperarte wallets i think

I've got a small amount of OMG. I use Myetherwallet for it but I think I'm gonna chill out on trading altcoins unless they're on CB or a CB competitor emerges. It's just so much easier to use and you don't have to worry about making three different transactions if you choose to cash out.

Had Digibyte for a while but fortunately I got out before it completely tanked.

I also invested in ETH when it was around that price on my brothers advice haha but I only bought like two coins...so I'm kind of pissed considering how much it's worth now haha I've also been buying LTC little by little as well, just in case something similar happens with that haha

bobcat wrote:real question, what scale have you guys invested (not specific numbers, but general ballpark)? i am really poor so all ive been able to put in is a few hundo, i wanna know more about this experience from folks with like 50 g's invested.

its still very much the wild west and as many people have lost their life savings as those who have profited at this stage. The big losses appear to be when currency's or wallet holders get hacked or people running the sites just disappear with your cash.

I personally have gone in $200, 150 bitcoin / 50 litecoin and will just keep monitoring it.

Just transferred BTC on bitstamp over to a coinbase account I set up today. I haven't touched a thing with exchanges since 2014 when I first opened a bitstamp account and i'm amazed at how quick you can get set up now. Took about 20 minutes to set up an account and transfer over from stamp. Back in 2014 it took days to even open an account!

Anyways, i'm branching out and buying some ETH. I'm fucked off that i've been reading bits and bats about it all year and just ignored it. 3500% gains YoY is insane!